Along with other state laws which go into effect on July 1st, perhaps the one most dearest to our hearts...no pocketbooks is the Gross Receipt Tax (GRT) that will rise to 1/16th of 1% which is an additional 6.5 cents on every $100.00 spent.
In Las Cruces the GRT rate will increase from 7.375% to 7.4275% and our neighbor...Old Mesilla will go to 7.6875% from 7.65%.
To see a full chart of GRT rates within the State of New Mexico, visit http://click.icptrack.com/icp/relay.php?r=9259566&msgid=156626&act=9GGH&c=198687&admin=0&destination=http%3A%2F%2Fwww.tax.state.nm.us%2Fpubs%2FGrossReceiptsRates%2Fgrt_rate_schedule_july_2009.pdf
The "Tax man cometh!"
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